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Ecommerce News : Online Wallet OnOn Pay Raises Pre-Series A

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Here’s what you need to know before you start the weekend.

1. Vietnamese mobile wallet and phone top-up startup OnOnPay raises pre-series A funding

The startup raised a pre-series A round worth $800,000.

The round is led by Asian venture capital firm Gobi Partners. Existing investor Captii Ventures participated. OnOnPay will use the funding to grow its user base and keep developing its tech.

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2. Asia Pacific leads for mobile cross-border shopping

Asia Pacific leads the world in mobile cross-border shopping, according to the third PayPal Annual Global Report, released in conjunction with global market research company Ipsos.

“Selling internationally is a substantial opportunity for merchants around the globe to grow their business,” says PayPal director of global initiatives Melissa O’Malley.

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3. Wal-Mart talks up ecommerce

For the third quarter in a row Walmart has beaten analysts’ predictions on revenue and marked same-store sales increases and in Q3 the company also had some more than solid growth in ecommerce lines and on the global scene.

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Ecommerce

How will oil prices shape the Covid-19 recovery in emerging markets?

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How will oil prices shape the Covid-19 recovery in emerging markets?

– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

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Tech

How the Rural-Urban Divide Plays Out on Digital Platforms

It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.

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In the West, villages are emptying out due to the lack of economic opportunities. Consider Italy where, in a bid to attract newcomers, a handful of municipalities have turned to selling houses for €1.

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